GST surges to ₹1.30 lakh crore in October; second highest collection since launch
The Hindu
This is the fourth time in a row when the GST collection was upwards of ₹1 lakh crore.
India’s Goods and Services Tax (GST) collection surged to ₹1.30 lakh crore in October, the second highest since its implementation in July 2017, indicating economic recovery from the COVID-19 pandemic and impact of festive demand, a Finance Ministry statement said on Monday. The highest GST collection of ₹1.41 lakh crore was recorded in April 2021.
This is the fourth time in a row when the GST collection was upwards of ₹1 lakh crore. The collection from the GST was ₹1.17 lakh crore in September, 2021.
Tax collections last month on goods sold and services rendered was 24% higher than in October 2020 and up 36% over 2019-20.
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